The average 401(k) balance reached $155,800 in the second quarter of 2026, an all-time high and the largest quarterly jump since late 2020, according to Fidelity Investments’ Q2 2026 retirement analysis. That is a 10.5% increase from the previous quarter and 13.1% higher than a year ago. The analysis covers more than 25.8 million participants across 27,300 plans, making it one of the broadest snapshots of American retirement saving. Average IRA balances also hit a record, reaching $144,523, while average 403(b) balances climbed to $145,000.
Savings rate near the benchmark.
The combined employee and employer 401(k) savings rate held at a record 14.4% for the second consecutive quarter, just below Fidelity’s recommended 15% annual benchmark. Workers contributed an average of 9.6% of pay, a new high, while employers added 4.8%. More than eight in ten participants, 81.2%, saved enough to capture their employer’s full matching contribution. Fidelity said 769,000 savers now hold seven-figure 401(k) balances.
Balances by generation.
The $155,800 average covers everyone from 22-year-olds just starting out to workers in their 60s. Baby boomers averaged $283,200, Generation X averaged $240,700, millennials averaged $94,300 and Generation Z averaged $20,800, according to Fidelity’s data. The record comes with a caveat: 19.5% of workers now carry an outstanding 401(k) loan, up from 19.2% at the end of the first quarter, and 3% took a hardship withdrawal in the quarter, up from 2.6% a year ago. Averages are also pulled up by large accounts — Vanguard’s comparable report lists a median of $44,115 against an average of $167,970 — so most savers sit well below the headline figure. The gender breakdown
adds further detail. Women who continuously participated in a 401(k) plan for at least five years had an average balance of $273,400, crossing the quarter-million-dollar threshold, according to Fidelity’s data. Female IRA investors as a group averaged $130,231, up 12% from a year earlier, while IRA contributions overall jumped 36% from the same quarter a year ago. Fidelity’s analysis also noted that balances are up 75% over the past decade and 20% from just five years ago, reflecting both market growth and steady contributions. The next data point to watch is the third-quarter release in late November, alongside the IRS announcement of 2027 contribution limits.
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